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The 120-page report analyzes the healthcare analytical testing services market by end-user (pharmaceutical and biotechnology companies, medical device companies and CROs) and geography (North America, Europe, Asia and ROW).
NEW YORK, October 5, 2021 / PRNewswire / – The Global Healthcare Analytical Testing Services Market Is Expected To Grow Steadily By $ 11.38 billion, registering a CAGR of almost 6% in 2021-2025. According to the report, the market is expected to grow 6.50% year-on-year in 2021 despite the continued spread of the COVID-19 pandemic.
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By end user, the pharmaceutical and biotechnology company segment is expected to create maximum demand in the healthcare analytical testing services market. Technological advancements and increased adoption of healthcare analytics services by pharmaceutical and biotechnology companies will be key to driving the growth of the segment during the forecast period.
In terms of geography, North America should present significant opportunities for market players. The growth of the analytical testing services market in North America can be attributed to the increasing number of research activities in the field of biotechnology.
Healthcare Analytical Testing Services Market: Key Growth Drivers
The healthcare analytical testing services market report concludes that the following factors are the main drivers of growth during the forecast period:
Besides, the need to comply with regulations is expected to become a major market trend during the forecast period. Each pharmaceutical product undergoes several analytical tests at each stage, such as drug discovery, development and clinical trials. The regulatory requirements of organizations such as the US FDA, EMA, and CFDA can only be met with high quality analytical testing. The US FDA and EMA both require pharmaceutical manufacturers to meet high standards of analytical testing by providing timely guidance. In the EU, even if the pharmaceutical product is manufactured outside the EU and is imported, it still has to undergo comprehensive analytical testing. Likewise, the CFDA has strengthened its GMP requirements. With the increasing stringency of drug manufacturing regulations, the need for analytical testing services in the healthcare industry will increase during the forecast period.
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Healthcare Analytical Testing Services Market: Offerings From Major Vendors
Almac Group Ltée: The company offers comprehensive and flexible analytical solutions to accelerate the development and approval of biologics.
Charles River International Laboratories Inc .: The company offers global testing and manufacturing services to support its customers throughout the biological development cycle.
Envigo: The company offers high throughput molecular technology analytical testing services in a format that can easily be integrated into laboratories.
Eurofins Scientific SE: The company offers medical device testing with regulatory compliance expertise and experienced GMP / GLP / ISO 17025 testing to ensure fast turnaround times with the highest level of service.
Laboratory Corp. of America Holdings: The company offers a variety of drug-free workplace and employee health and wellness testing programs and customizable pre- and post-hire employee screening programs that help optimize workforce productivity. of work.
Reasons for Buying Healthcare Analytical Testing Services Market Report:
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Market CAGR during the forecast period 2021-2025
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Detailed information on factors that will help the growth of the Healthcare Analytical Testing Services Market over the next five years
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Estimated Healthcare Analytical Testing Services Market Size and Its Contribution to Parent Market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the healthcare analytical testing services market through North America, Europe, Asia, and RANK
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Market competitive landscape analysis and detailed supplier information
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Complete details on the factors that will challenge the growth of Healthcare Analytical Testing Services Market vendors
Associated reports:
Global Biopharmaceutical Analytical Testing Services Market – The global biopharmaceutical analytical testing services market is segmented by geography (North America, APAC, Europe, South America, and MEA) and end users (pharmaceutical and biotechnology companies and CROs).
Download an exclusive free sample report
Global Laboratory Analysis Instruments and Consumables Market – The global laboratory analysis instruments and consumables market is segmented by application (element analysis, separation analysis, and molecular analysis) and geography (North America, Europe, Asia, and RANG).
Download an exclusive free sample report
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Scope of the Healthcare Analytical Testing Services Market |
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Cover of the report |
Details |
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Page number |
120 |
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Year of reference |
2020 |
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Forecast period |
2021-2025 |
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Growth dynamics and CAGR |
Accelerate to a CAGR of almost 6% |
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Market growth 2021-2025 |
$ 11.38 billion |
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Market structure |
Fragmented |
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Annual growth (%) |
6.50 |
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Regional analysis |
North America, Europe, Asia and ROW |
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Efficient contribution to the market |
North America at 46% |
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Main consumer countries |
United States, Switzerland, Germany, United Kingdom and Japan |
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Competitive landscape |
Leading companies, competitive strategies, reach of consumer engagement |
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Profiled companies |
Almac Group Ltd., Charles River Laboratories International Inc., Envigo, Eurofins Scientific SE, Laboratory Corp. of America Holdings, Merck KGaA, SGS SA, STERIS Plc, Thermo Fisher Scientific Inc. and WuXi AppTec Co. Ltd. |
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Market dynamics |
Analysis of the parent market, market growth drivers and obstacles, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period. |
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Customization |
If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments. |
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Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.
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